Difference between revisions of "Decrease of the relative share of the US economy in the global economy"
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==Draft == | ==Draft == | ||
This driving force | This driving force is created by Wendi Mennen | ||
==Description:== | ==Description:== | ||
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* Aging population in the US | * Aging population in the US | ||
* The increasing trade and budget deficit of the US: [[The Increase of the United States Budget Deficit]] | * The increasing trade and budget deficit of the US: [[The Increase of the United States Budget Deficit]] | ||
* Decrease of oil found in the US | |||
* Increasing inflation and declining dollar | |||
==Inhibitors:== | ==Inhibitors:== | ||
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==Experts:== | ==Experts:== | ||
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==Web Resources:== | ==Web Resources:== | ||
* http://www.imf.org/external/pubs/ft/weo/2005/02/index.htm |
Revision as of 18:43, 1 December 2005
Draft
This driving force is created by Wendi Mennen
Description:
The United States is the largest economy in the world, according to business week, US GDP is 28% of the global GDP. The United States dominates the world economy. The forces in the economy are shifting from a Western centered world, to a more Eastern centered world. The economy of Europe, one of the major alliances of the US, are declining and the economies of China and India are increasing relatively of the worlds economy. The new economies can set new rules of the game, and can diminish the power of the economy of the US.
The total world economy will grow substantially in the next decennia. Although a lot of this growth will be gained by the US, other economies will grow faster.
Enablers:
- Growing economy of China Economic Growth in China
- Growing economy of India and Brazil.
- Globalization of markets The increasing globalization of markets
- Increase of the Economy of Europe, especially East Europe
- More Asian and less Western orientation (pg12 NIC report mapping the global future)
- Increasing anti-americanism
- Aging population in the US
- The increasing trade and budget deficit of the US: The Increase of the United States Budget Deficit
- Decrease of oil found in the US
- Increasing inflation and declining dollar
Inhibitors:
- Increasing growth of US economy
- Technology drive of 'new' economies
- Increasing instability in Asia (Taiwan, Korea)
- US will remain single most powerful source and uses this to increase their power.
Paradigms:
A large scale diversifaction out of the US dollar into the euro and other currencies.
The United States has an equal player on the global market with China and India, especially when those combine forces
Experts:
-
Timing:
According to business week in 2050 the economy of China is larger than the US. And in 2025 the combined GDP of India and China are 20% of world GDP, while US GDP still is on 27%. This process is a slow process, but even at this moment, also caused by the large population of China and India, the force is visible and influences the economy.